Analyze the impact of a decrease in tariffs (taxes) on imported flat screen televisions in the market for flat screen televisions.

The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula  q = 95e−3p2 + p,  where q is the demand in monthly sales and p is the retail price in hundreds of yen. (a) Determine the price elasticity of demand E when the retail price is set at ¥400. E = _____ Interpret your answer. The demand is going down/up by ____ % per 1% increase in price at that price level. Thus, a large price decrease/increase is advised. (b) At what price will revenue be a maximum?  ____ hundred yen (c) Approximately how many paint-by-number sets will be sold per month at the price in part (b)? (Round your answer to the nearest integer.) ______ paint-by-number sets per month

A firm believes the elasticity of demand it faces in its own country is -1.1 and in the other country is -1.5. Suppose the firm can charge $1 for its products in its own country and can prevent resales between these two countries. What price will it charge in the other country?

A local government is seeking to impose a specific tax on hotel rooms. The price elasticity of supply of hotel rooms is 3.5, and the price elasticity of demand is 0.3. If the new tax is imposed, who will bear the greater burden-hotel suppliers or hotel consumers? The hotel consumers pay percent and hotel suppliers pay percent of the tax. (Enter your responses rounded one decimal place.)